1988 (2) TMI 37

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....is is an application under section 256(2) of the Income-tax Act, 1961 (hereinafter referred to as " the Act "). The material facts giving rise to this application briefly are as follows: The respondent-assessee owns a property known as " Jackson Hotel ". The property was initially taken on lease by the assessee but thereafter the assessee purchased that property in the year 1973. On August 1, 1....

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....nd 23 of the Act. Aggrieved by that order, the assessee preferred an appeal before the Tribunal. That appeal was allowed. The application submitted by the Revenue under section 256(1) of the Act for making a reference to this court was rejected. Hence, the Revenue has sought a reference in this application. Learned counsel for the Revenue contended that the question sought to be referred is a q....